Home Purchase Cancellations Fall in April as Contract Signings Hit 4-Year High

Redfin attributes the dip to buyers and sellers gaining a better sense of current market conditions.

A sale pending sign in front of a home in San Anselmo, Calif., on March 18, 2022. Justin Sullivan/Getty Images

Home sales contract cancellations declined slightly in April, while both property listings and contract signings increased in the first four months of the year, according to two reports.

A May 21 Redfin report indicated home purchase contract cancellations in April saw a slight decline of 0.1 percent from the previous month. Nationally, nearly 47,000 home sale agreements fell though, representing just 13.4 percent of homes under contract that month.